SCOTTISH Labour has promised a “housebuilding revolution” delivering 125,000 homes across all tenures over the next five years should it win power in May.

According to party leader Anas Sarwar, the target will be met with the founding of a housing investment bank and regional housing development trusts, and create 9,000 new apprenticeships.

Announcing the party’s housing pitch, which includes cutting land transaction tax for first-time buyers, setting aside 5,000 new homes for “mid-market” rent and a £1 home scheme to bring empty and derelict properties back into use, Mr Sarwar said:

“The SNP has failed to help first-time buyers and left too many people stuck paying soaring rents, unable to save and locked out of the housing ladder.

“As First Minister, I will lead the biggest housebuilding revolution in the history of devolution — building 125,000 new homes over the next parliament, across all tenures, social homes, homes for rent and homes to buy.

“This is how we lift people out of poverty, create jobs, grow the economy, and give more families the chance to own a home.”